Bybit offers a linear perpetual contract in USDC, allowing traders to place long or short contracts using USDC with no expiration date.
Our USDC perpetual contracts are quoted in USD, and all margin, profit and loss calculations are denominated in USDC. Taking BTC-PERP as an example, if a trader holds a 1 BTC contract, and the price of BTC increases by $100, the trader's profit will be 100 USDC.
In USDC perpetual contract trading, only one-way mode is supported. Users can hold either a long or short position in a contract.
USDC Perpetual Contract Specifications
|
Symbol |
BTC-PERP |
|
Expiration |
This contract does not expire. |
|
Type |
Quoted in USD; settled in USDC |
|
Contract Size |
1 BTC |
|
Tick Size |
0.5 USD |
|
Minimum Order Size |
0.001 BTC |
|
Funding Interval |
Every 8 hours (UTC 00:00, 08:00 and 16:00) |
|
Settlement Interval |
Every 8 hours (UTC 00:00, 08:00 and 16:00) |
|
Fee Rate |
Trading Fee: Taker: 0.06%; Maker: 0.01% *For more information, please refer to Perpetual & Futures contract Fees Explained |
To learn more about the difference between USDC perpetual contract and USDT perpetual contract on Bybit, please refer to USDC Contract — FAQ.
Margin Systems
Bybit provides two margin modes: regular margin and portfolio margin.
Regular Margin
This is the default mode of USDC perpetual contract trading. Under regular margin, Bybit offers a cross margin mode.
Cross margin uses all of a trader’s available USDC balance to prevent liquidation. When position margin drops to the maintenance margin level, the trader's leveraged position will be forcibly closed. For more details on the liquidation process, please refer to the Liquidation Process (USDC Contract) .
Under cross margin, traders can set their preferred leverage in the order zone. Please take note that 10x is the default leverage.
Portfolio Margin (Temporarily unavailable, will be back on April 2022)
Portfolio margin is to align the margin requirements with the overall risk of the portfolio. It combines the positions of the futures and options portfolios to calculate the user margin.
Portfolio margin accounts offer the following potential benefits for traders who maintain a balanced portfolio of hedging positions:
- Lower margin requirements
- Increased leverage
To qualify for portfolio margin, your account needs to meet the following requirements:
- Maintain a minimum net equity of 10,000 USDC
- There are no positions in the USDC account
- There are no active orders or conditional orders under the USDC account
Note:
— Portfolio margin is a risk-based margin applicable to qualified accounts, and requires manual activation by users.
— In portfolio margin mode, if the net equity in your account is less than 10,000 USDC, one of the following two situations will apply:
1) There’s no positions and active orders in your account, and the system will automatically switch to the regular margin mode.
2) There is a position or an active order in your account, and portfolio margin mode will be maintained.